CHARLOTTE, N.C. — Mobile laundry and drycleaning pickup and delivery service 2ULaundry recently announced a $20 million Series B funding led by Level 5 Capital Partners (L5), bringing the total raised to $25.4 million. Driven by the capital injection, 2ULaundry plans to continue scaling physical locations across the country.
2ULaundry and its brick-and-mortar counterpart, LaundroLab, are on a mission to innovate the $46 billion laundry and drycleaning industry, says Alex Smereczniak, CEO and co-founder of 2ULaundry.
“Our two brands complement each other in that 2ULaundry pickup and delivery volume gets layered on top of modern, tech-enabled, franchised LaundroLabs,’ he says. “The result is a franchisee with store revenues that far exceed your traditional coin laundry.”
2ULaundry plans to expand with 20 new locations this year through franchising, plus target national partnerships to provide services to businesses such as gyms, fitness studios and Airbnb hosts. The 2ULaundry subscription offers customers access to services with a guaranteed one-day turnaround, including standard cleaning of everyday laundry and linens, and a hang-dry offering.
L5 says it invests in brands with long-term vision to provide habit-based experiences for individuals. It supplies capital and hands-on support through franchise licensing and retail growth.
“We back companies that bring people together. As the market for community- and habit-based businesses continues to grow in this post-lockdown world, L5 Capital Partners stands at the forefront of this exciting time for brick-and-mortar businesses," says Chris Kenny, its founder and managing partner. “2ULaundry is a perfect example of the innovative, people-focused businesses we align with, and we are excited to witness their continued growth.”
Since the LaundroLab franchise opportunity launched in 2021, there are 29 LaundroLab owners and 108 licenses have been awarded.
“With 108 licenses sold, a goal of building our team with over 350 hires and opening 25 new stores in the next 12 months, we are focused on scaling thoughtfully and our partnership with L5 equips us with the resources to do so as we set out to ‘Make Laundry Happy’ nationwide,” Smereczniak says.
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